Common use of Indebtedness of Restricted Subsidiaries Clause in Contracts

Indebtedness of Restricted Subsidiaries. The Company will not permit any Restricted Subsidiary that is not a Subsidiary Guarantor to create, assume, incur, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness, except: (a) Indebtedness owed to the Company or a Wholly Owned Restricted Subsidiary; (b) Indebtedness outstanding as of the date of this Agreement that is described in Schedule 5.15; (c) Indebtedness secured by Lien▇ ▇▇▇mitted under Section 10.6(g); (d) Indebtedness of a Subsidiary outstanding at the time of its acquisition by the Company and initial designation as a Restricted Subsidiary, provided that (i) such Indebtedness was not incurred in contemplation of such Subsidiary becoming a Restricted Subsidiary and (ii) immediately after giving effect to the designation of such Subsidiary as a Restricted Subsidiary, no Default or Event of Default would exist; (e) Indebtedness in addition to that permitted by Sections 10.3(a) through (d), provided that Priority Debt does not at any time exceed 20% of Adjusted Consolidated Net Worth, determined as of the end of the most recently ended fiscal quarter. Any Indebtedness of Subsidiary Guarantor that is released from the Subsidiary Guaranty shall be deemed to have been incurred by such Subsidiary on the date of such release.

Indebtedness of Restricted Subsidiaries. The Company will not permit any Restricted Subsidiary that is not a Subsidiary Guarantor to create, assume, incur, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness, except: (a) Indebtedness owed to the Company or a Wholly Owned Restricted Subsidiary; (b) Indebtedness outstanding as of the date of this Agreement that is described in Schedule 5.15; (c) Indebtedness secured by Lien▇ ▇▇▇mitted Liens permitted under Section 10.6(gSection10.6(g); (d) Indebtedness of a Subsidiary outstanding at the time of its acquisition by the Company and initial designation as a Restricted Subsidiary, provided that (i) such Indebtedness was not incurred in contemplation of such Subsidiary becoming a Restricted Subsidiary and (ii) immediately after giving effect to the designation of such Subsidiary as a Restricted Subsidiary, no Default or Event of Default would exist; (e) Indebtedness in addition to that permitted by Sections 10.3(a) through (d), provided that Priority Debt does not at any time exceed 20% of Adjusted Consolidated Net Worth, determined as of the end of the most recently ended fiscal quarter. Any Indebtedness of Subsidiary Guarantor that is released from the Subsidiary Guaranty shall be deemed to have been incurred by such Subsidiary on the date of such release.